When asked what Berkshire's competitive advantage is, Munger's response was that "we like to stay sane while others go crazy."

Buffett has often expressed the same sentiment as: "be fearful when others are greedy and greedy when others are fearful."

It is the apt advice in the current situation when the bull market keeps all the analysts busy. Street analysts are giving buy calls on the basis of price. In every Bull/bear market the clowns who appear on the media talk only on the price aspect as they do not know the quality of the company. We have proved their predictions wrong on many occasions. Warren Buffett once quoted “If you’re an investor, you’re looking on what the asset is going to do, if you’re a speculator, you’re commonly focusing on what the price of the object is going to do, and that’s not our game.”

Decide if you need to create wealth or become a speculator. Speculators seldom make wealth and bull market investing is always tough. If you have borrowed money to make your investments this is the right time to book profits. In case the issue on Wagah border is not solved in short span of time it could have a serious implication on the stock market.

Tomorrow market is closed on account of Guru Nanak Jayanti and let us discusses more about the market on Friday